Welcome to our dedicated page for Exelon news (Ticker: EXC), a resource for investors and traders seeking the latest updates and insights on Exelon stock.
Exelon Corporation (EXC) reports developments across a regulated electric and gas utility portfolio anchored by Atlantic City Electric, BGE, ComEd, Delmarva Power, PECO and Pepco. Recurring company news covers utility earnings drivers, approved distribution and transmission rates, grid investment recovery, dividend declarations and customer-affordability initiatives under The Exelon Promise.
Coverage also reflects ComEd energy efficiency programs in northern Illinois, small-business and low-income customer incentives, Illinois Commerce Commission reconciliation filings, and federal policy matters involving FERC and the PJM regional electric grid. These updates connect Exelon's transmission and distribution operations with customer costs, reliability planning and regulated rate mechanisms.
ComEd hosted a STEM Labs event to inspire 50 Latino high school students to pursue careers in science, technology, engineering, and math (STEM). The event, part of efforts to address Latino underrepresentation in STEM, allowed students to build robots and interact with ComEd engineers. Participants received $250 scholarships and learned about various STEM career opportunities. Despite making up 17% of the U.S. workforce, Latino Americans represent only 8% of STEM workers. ComEd continues to sponsor initiatives promoting STEM education for students of color and women.
ComEd has launched an EV Toolkit to assist customers considering electric vehicles (EVs). This comprehensive resource offers information on financial incentives, vehicle options, and charging solutions. With the goal of adding 1 million EVs to Illinois roads by 2030, the toolkit helps users compare costs and find public charging stations, emphasizing potential savings of up to $2,481 annually for EV owners. The initiative supports Illinois' transition to clean energy, aligning with the new CEJA law aiming for 100% clean energy by 2050.
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ComEd has launched a pilot program using drones for vegetation management near powerlines in northern Illinois. The initial deployment involved spraying herbicide over two acres in Forest View, which was completed in just 45 minutes using only 0.75 gallons of herbicide, significantly reducing time and resources compared to traditional methods. The initiative is part of ComEd's efforts to mitigate power outages caused by overgrown vegetation and aims to enhance the restoration of native prairie across 65,000 acres of right-of-way land. This innovative approach is set to improve efficiency while maintaining safety.
ComEd has facilitated energy savings of approximately $17.5 million for nearly 130,000 customers in northern location value="LS/us.il"Illinois through its home energy assessment program. Since 2014, these assessments have contributed to $30 million in free energy-saving products. Customers have saved over 125 million kilowatt-hours and reduced carbon emissions by more than 106 million pounds. The program aims to enhance energy efficiency and lower costs, showcasing ComEd's commitment to providing reliable electricity and supporting cleaner energy solutions.
PPG has entered a 12-year agreement with Constellation to procure clean energy for its Adrian, Michigan manufacturing facility. Starting in 2024, PPG will receive 1.5 MW from the Double Black Diamond Solar Energy Project, aiming to reduce its carbon footprint by over 2,400 metric tons annually, equivalent to emissions from 530 gasoline cars. This initiative supports PPG's ongoing sustainability efforts and aligns with its decarbonization goals. The partnership highlights PPG's commitment to renewable energy and its intent to explore more global opportunities in this sector.
This summer, Constellation's nuclear plants delivered high generation reliability amidst extreme weather, with a remarkable capacity factor of 99%. The company, a leader in carbon-free energy, operates 12 nuclear facilities across the East Coast and Midwest, providing uninterrupted electricity to millions of homes. Ongoing maintenance and technology upgrades helped maintain this reliability, critical during tough climatic conditions. Constellation aims for 100% carbon-free power generation by 2040, leveraging its diverse energy mix and largest nuclear fleet in the U.S.
ComEd and the League of Chicago Theatres announced the awarding of $160,000 in grants to 18 local community arts organizations in northern Illinois through the Powering the Arts Grant Program. Individual grants range from $10,000 to $25,000, aimed at enhancing access to arts and culture after pandemic disruptions. Since its inception in 2018, the program has allocated $580,000 to various initiatives to boost community engagement and arts appreciation.
Constellation Energy Corporation (Nasdaq: CEG) leads the U.S. in carbon-free energy production, showcasing the lowest carbon dioxide emissions among the top 20 investor-owned power producers. An independent analysis revealed that Constellation's emissions are nearly four times lower than the next cleanest company. With around 90% of its output from carbon-free sources, Constellation aims for 100% carbon-free electricity by 2040, backed by federal grants for hydrogen production and direct air capture technologies. The firm partners with Microsoft to develop real-time carbon-free energy solutions.
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